Uniswap Deploys 'V3' Smart Contracts To All Ethereum Networks.
2021-04-21 | Robin Williams
![Uniswap Deploys 'V3' Smart Contracts To All Ethereum Networks.]()
Renowned decentralized exchange Uniswap has taken a step closer to launching its highly anticipated “V3” iteration, revealing the successful deployment of V3’s smart contracts
to all Ethereum test networks.
Within an official
announcement on 21
st April, Uniswap Labs revealed that the protocol’s V3 core and periphery smart contracts
are deployed
to all major Ethereum testnets - Ropsten, Rinkeby, Kovan, and Goerli.
The testnet addresses were posted to
Github, with Uniswap reminding users that the addresses aren't final
and can be changed
as the team makes final updates to the periphery repository. Version three’s core contracts have also been
deployed to GitHub.
A bug bounty was started on 23
rd March offering rewards of up to $500k for
the invention of high severity bugs in V3’s contracts.
Consistent with the official announcement, Uniswap v3
is predicted to launch to mainnet on 5
th May.
Uniswap has taken a path of capital efficiency for its next upgrade
that can complicate the passive income aspect of liquidity provision
for several casual DeFi investors.
Some of the upgrades
within the next iteration embody multiple fee tiers which permit liquidity providers to be compensated for
taking over varying degrees of risk. There are also upgrades to the automated market maker bonding curves, which aggregate individual positions into
one pool
to make one combined curve for users to trade against.
Uniswap V3 offers three separate fee tiers per pair
consistent with expected pair volatility - 0.05%, 0.30%, & 1.00% - offering greater protection against impermanent loss to liquidity providers.
Despite the high Ethereum [
ETH] network fees, which are presently around $67.86 USD
on the average for a token swap on Uniswap
consistent with Etherscan, the DEX continues
to draw in high trading volumes.
Recently on 20
th April, Uniswap founder Hayden Adams
posted that the platform had reached the milestone of $10 Bln in weekly trading volume for
the primary time.
At the reporting time, the DEX’s native UNI token was trading 6.8% higher over the past 24 hours
consistent with CoinGecko. UNI tokens are presently trading at a price of $32 USD, but down from their 15
th April all-time high of $39.20 USD.
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